Financial Literacy

Crypto.news - The race for stablecoin supremacy heats up as industry experts debate Tether’s role and new players like PayPal (NASDAQ:PYPL) enter the arena.

Bloomberg Intelligence expert Jamie Coutts pointed to Ethereum’s (ETH) growing dominance, highlighted by key network adoption metrics and layer-2 projects like Optimism, Arbitrum, and Base.

He anticipates that Ethereum’s scaling roadmap will drastically lower layer-2 transaction costs, thanks to the forthcoming EIP-4844. This comes as PayPal recently debuted its PYUSD stablecoin, fueling speculation that it might develop its own layer-2 network.

On the latest episode of The Market Report, Cointelegraph analyst Marcel Pechman delves into Grayscale’s victory against the United States Securities and Exchange Commission. Even though there’s still no decision regarding the firm’s application for a spot Bitcoin (BTC) exchange-traded fund, the decision was favorable for Grayscale and its Grayscale Bitcoin Trust, which has over $16 billion in assets under

The biggest new memecoin of 2023, Pepe (PEPE), suffered one of the worst possible fates that can befall a new crypto asset — a partial rug pull after its anonymous developers abruptly sold nearly $16 million worth of the token on Aug. 24.

The official Pepe X (formerly known as Twitter) account explained the drop was due to “three ex-team members” going behind their back and selling the tokens without their knowledge — a move that saw the price of Pepe plummet as much as 26% in the days following, without much respite.

Pepe liquidity held strong despite the sudden plunge. Source: Kaiko

There are hopes that the United States could see a new crypto resurgence after several rulings this year have seen court judges “rein in the SEC,” according to a digital asset lawyer from K&L Gates.

On Aug. 31, Jeremy McLaughlin, a partner at the global law firm, noted that multiple U.S. court cases have stomped on arguments from Securities and Exchange Commission Chair Gary Gensler, who has said that almost all digital assets are securities.

Dimitropoulos (center-left), McLaughlin (center-right) and Leung (right) speaking on a panel regarding crypto regulation. Source: Tom Mitchelhill/Cointelegraph

U.Today - Stories about savvy whales and investors making have become a usual part of the cryptocurrency industry, but what about those who do not have the Midas touch but still manage fairly large sums of ?

One such Ethereum investor has been grabbing attention for all the wrong reasons. This individual seems to have a knack for making poor choices when it comes to perpetual contracts, and their recent moves have left many in the crypto world utterly baffled.

Google (NASDAQ:GOOGL) Cloud announced a new partnership with the government of El Salvador on Aug. 29 to establish an office and provide Google Distributed Cloud (GDC) services in the country.

The partnership aims to digitize the country, update government services and improve the healthcare and education systems. The GDC will also help bring infrastructure closer to where data is generated for El Salvador.

Crypto.news - Iris Energy invests $10 million in 248 Nvidia (NASDAQ:NVDA) H100 GPUs to expand into generative AI alongside its existing focus on Bitcoin (BTC) mining.

The company expects the 248 GPUs to be delivered in the coming months and aims to utilize them in cloud computing opportunities.

Daniel Roberts, co-founder and co-CEO of Iris Energy, stated that the company aims to use its existing data centers to meet the burgeoning demand for generative AI computing.

Grayscale has emerged victorious in a lawsuit against the U.S. Securities and Exchange Commission (SEC) regarding the review of its Bitcoin ETF.

Bitcoin (BTC) rose 6.2% yesterday to close above the 200-DMA for the first time since January.

South Korea’s parliamentary ethics subcommittee has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party.

A parliamentary ethics subcommittee of South Korea has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party (DP), the local news agency Yonhap reported on Aug. 30.

Kim Nam-kuk at a plenary session at the National Assembly in Seoul on Aug. 24, 2023. Source: Yonhap

itstamp, a European-based cryptocurrency exchange, announced on Thursday an increase in interest rates for customers lending select cryptocurrencies for a period of 30 days. This promotion, which includes Ripple's XRP, Ether (ETH), Tether (USDT), Litecoin (LTC), and Bitcoin Cash (B*H), is set to run until October 15, 2023.

The rate enhancement enables Bitstamp customers to earn up to 2.5% on XRP deposits and up to 6% on USDT. Interest rates for other cryptocurrencies involved in the promotion vary from 3% to 5%. However, Bitstamp's lending services are exclusively available to clients outside the United States, United Kingdom, Singapore, Japan, and Canada.

The company's lending product, Bitstamp Earn, operates independently from its cryptocurrency trading platform. The firm has forged a partnership with Tesseract, a Finland-regulated entity, for its crypto lending business. Similar to other crypto lending firms, Tesseract offers loans to institutional investors while maintaining a 100% collateralization ratio for all stablecoin loans. Accepted collateral includes liquid crypto assets such as BTC, ETH, XRP, AVAX, DOT, and major stablecoins.

Established in 2011, Bitstamp is one of the oldest cryptocurrency exchanges. It provides lending services for nine assets via Tesseract. Despite the challenges faced by the crypto lending industry following the collapse of significant lenders such as Celsius and BlockFi in 2022, Bitstamp continues to publish monthly transparency reports on its lending operations to bolster trust in its business model.

The firm anticipates that the recent hike in interest rates will attract crypto investors—especially during bearish market conditions—as it offers an opportunity for users to earn interest on idle cryptocurrencies while awaiting market recovery.

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